The company (GSCN)
gscn
expects a "modest" operating profit or a "modest" operating loss for its third quarter. Prior to the news, analysts on Wall Street expected a third-quarter profit of 19 cents a share and fourth-quarter profit of 26 cents.

Last year the company reported third-quarter net income of $3.58 million or 28 cents a share. Sales for the quarter were $47.6 million.

Sales for the third and fourth are projected to be in the low $40 million range, the company said. See press release.

General Scanning cited the continuing Asian financial crisis and a slowdown in the semiconductor and equipment industries.

The company said about 40 percent of the company's revenue is at risk due to these issues. Sales are not expected to improve in Asia or the semiconductor market until later next year.

General Scanning said to combat the low sales it continues to consolidate operations of its manufacturing process systems group, cut its workforce worldwide and lower capital expenditures.

On a more positive note, the company's instrumentation and component products, which account for 40 percent of sales, exceeded last year's levels. The company's trim and test laser systems, which account for the remaining 20 percent of sales, continue to perform as planned for the year.

Shares closed down 7/16 to 4 1/16, down from a 52-week high of 35 3/4.

Intraday Data provided by SIX Financial Information and subject to terms of use.
Historical and current end-of-day data provided by SIX Financial Information. Intraday data
delayed per exchange requirements. S&P/Dow Jones Indices (SM) from Dow Jones & Company, Inc.
All quotes are in local exchange time. Real time last sale data provided by NASDAQ. More
information on NASDAQ traded symbols and their current financial status. Intraday
data delayed 15 minutes for Nasdaq, and 20 minutes for other exchanges. S&P/Dow Jones Indices (SM)
from Dow Jones & Company, Inc. SEHK intraday data is provided by SIX Financial Information and is
at least 60-minutes delayed. All quotes are in local exchange time.